Extraordinary US Performance For Wal-Mart (WMT)
People who don’t have much money still need to buy the essentials somewhere. That place seems to be Wal-Mart (WMT) which still sells a lot of nifty stuff at low prices. For the month of February, the huge retail chain’s revenue…
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For the month of February, the huge retail chain’s revenue was up 8% at its core Wal-Mart US stores to over $20 billion. Sam’s Club revenue rose 3% to $3.5 billion.
The Achilles Heel at Wal-Mart continues to be its international operations which had a revenue drop of 11% to $6.5 billion. Currency exchange rates undermined the numbers from overseas. On a constant currency basis, revenue would have been up 8.8%. If the company could fix that problem it would be a growth stock again.
US comparable store sales were up 5.1%, which is nearly a miracle in this economic environment.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
